Palace: We’ll listen to investors’ gripes

Malacañang acknowledged yesterday the concerns raised by investors regarding bureaucratic red tape and inefficiency in government, and gave assurances that these would not "fall on deaf ears."

Press Secretary Ignacio Bunye said the government would have to work harder even as it welcomed the increase of foreign direct investments as a vote of confidence in the administration’s economic reforms.

"We are working double time to sharpen governance to attract more investments through our aggressive campaign against grafters, the rationalization of the bureaucracy and the reduction of red tape at all levels," Bunye said.

The government is also undertaking a full-scale computerization of all government transactions to further reduce red tape and is implementing a robust e-procurement program, he added.

Bunye said the administration would appreciate and continue to anticipate constructive suggestions from the business sector that would help the government improve its operations.

Foreign businessmen have submitted the other day their complaints to the government on bureaucratic red tape and inefficiency to help the Philippines improve its competitiveness.

The foreign chambers of commerce consolidated their concerns and identified three areas they want the government to immediately act on. These are improving "bureaucratic paper work," value added tax refunds, the issuance of the tax credit certificates, and the processing of work permits and visas. — Aurea Calica